MGIC INVESTMENT CORPORATION

MGIC was founded in 1957 after Max Karl, a Milwaukee lawyer, saw how people struggled to save a 20% down payment. He also knew the risks lenders faced in lending to borrowers with low down payments. That's why he invented private mortgage insurance (PMI). With PMI, people can buy homes with as little as 3% down, and the risks to lenders are limited because MGIC insures a portion of the mortgage loan in the event of default... Mortgage insurance by MGIC - whether borrower paid or lender paid - helps you serve your customers by making homeownership more affordable for them. In addition to private mortgage insurance solutions, we offer our lender partners a variety of innovative services, training and resources... MGIC was originally formed in 1957 by Milwaukee real estate attorney Max Karl, who was frustrated with the process of closing loans with 100% government guarantees. He believed there had to be a better way. He took his idea of having a private company insure only the top..

Also known as: MGIC, MGIC Investment Corp.

Primary location: Milwaukee United States